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Blackstone Paid $340K Per Key for a 3.5% Cap Rate in San Francisco. That's Not a Hotel Bet. A 25-Basis-Point Hike on a $50M Floating-Rate Loan Costs $125K. That's 1,400 Room Nights You Don't Have. $16,000 in Room Damage. One Guest. And Your Damage Policy Probably Wouldn't Cover It Either. Marriott Just Doubled Its Vietnam Portfolio in Four Years. Here's What That Pipeline Actually Demands. A $480 Million Exit Fee on a $143 Million Company. That's the Ashford Story in One Sentence. Ilitch Just Bought the Rest of Ocean Casino. The Real Play Is What Comes After. Your Tech Accounts Are About to Ghost You. August Is Coming. Blackstone Paid $340K Per Key for a 3.5% Cap Rate in San Francisco. That's Not a Hotel Bet. A 25-Basis-Point Hike on a $50M Floating-Rate Loan Costs $125K. That's 1,400 Room Nights You Don't Have. $16,000 in Room Damage. One Guest. And Your Damage Policy Probably Wouldn't Cover It Either. Marriott Just Doubled Its Vietnam Portfolio in Four Years. Here's What That Pipeline Actually Demands. A $480 Million Exit Fee on a $143 Million Company. That's the Ashford Story in One Sentence. Ilitch Just Bought the Rest of Ocean Casino. The Real Play Is What Comes After. Your Tech Accounts Are About to Ghost You. August Is Coming.

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Hotel Advisory Agreements

1 story · First covered Jun 23, 2026 · Latest 2h ago

Hotel Advisory Agreements Coverage

A $480 Million Exit Fee on a $143 Million Company. That's the Ashford Story in One Sentence.

REITs Primary

2h ago

A $480 Million Exit Fee on a $143 Million Company. That's the Ashford Story in One Sentence.

Braemar Hotels is paying Ashford Inc. a termination fee worth more than three times the company's entire market cap to break free from its advisory agreement. If you've ever wondered what an externally-managed REIT structure really costs when the music stops, this is your case study.

MS

Mike Storm 3 min read · 2h ago